HIH Insurance

Background

On 15 March 2001, HIH Insurance Limited and a number of its
subsidiaries were placed into provisional liquidation. Subsequently,
on 27 August 2001, the companies that were in provisional
liquidation were placed into liquidation.

Terminated Schemes' Final Payments

Scheme Company

Final %

FAIR

100%

WMG

100%

HIH U&I

46.8% to 48.48% (d)

FAIT

22.52% & 22.57% (e)

FAII

14.44%, 15.55% & 76.56% (f)

The ultimate Scheme Payments are estimates only. Final outcomes may vary from these estimates depending
on settlement of claims received, asset recoveries, the outcome of litigation, and costs incurred.

(a) HIH Casualty & General Insurance Limited creditors with Non Insurance claims in Australia have been paid
35.5 cents in the dollar, and creditors with Insurance claims in Australia have been paid 48.61 cents in the dollar.

HIH Casualty & General Insurance Limited creditors with Non Insurance claims that are Not in
Australia have been paid 34.5 cents in the dollar, and creditors with Insurance claims that are Not in
Australia have been paid 47.82 cents in the dollar.

(b) FAI General Insurance Company Limited creditors with Insurance claims worldwide have been paid
64.78 cents in the dollar, and creditors with Non Insurance
claims in Australia have been paid 62.5 cents in the dollar.

(c) CIC Insurance Limited creditors with Insurance claims in Australia have been paid 92.89 cents in the dollar
and creditors with Non Insurance claims in Australia have been paid 92.5 cents in the dollar.

(d) HIH Underwriting & Insurance (Australia) Pty Limited creditors with Insurance claims in Australia have been
paid a final Scheme Payment of 48.48 cents in the dollar and creditors with Non Insurance claims in Australia
have been paid a final Scheme Payment of 46.8 cents in the dollar.

(e) FAI Traders Insurance Company Pty Limited creditors with Insurance claims in Australia have been paid a final
Scheme Payment of 22.57 cents in the dollar and creditors with non Insurance claims in Australia have been paid
a final Scheme Payment of 22.52 cents in the dollar.

(f) FAI Insurances Limited creditors with Insurance claims in Australia have been paid a final Scheme Payment
of 76.56 cents in the dollar, creditors with Insurance claims that are Not in Australia have been paid a
final Scheme Payment of 15.55 cents in the dollar and creditors with Non Insurance claims in Australia
have been paid a final Scheme Payment of 14.44 cents in the dollar.